Blockchain researchers reported that the amount of cryptocurrencies stolen globally in the first six months of 2024 more than doubled compared to a year ago.
Hackers stole $1.38 billion worth of cryptocurrency by June 24, 2024, compared to $657 million in the same period in 2023, TRM Labs said in a report. The average theft was one and a half times higher than the previous year, the report said.
This means that cybercriminals are more motivated to attack cryptocurrency services, and when they do, they can steal more.
Cryptocurrency prices have generally recovered from lows hit in late 2022 following the collapse of Sam Bankman-Fried's crypto exchange FTX. Bitcoin reached an all-time high of $73,803.25 in March this year.
Among the biggest cryptocurrency losses so far this year was approximately $308 million worth of bitcoin stolen from Japanese cryptocurrency DMM Bitcoin in what the company called an "unauthorized leak." Cryptocurrency companies are often the target of hacks and cyberattacks, although losses of this magnitude are rare.
In 2022, the volume of stolen cryptocurrency was about 900 million dollars.
